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US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

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Flows through the Strait in 2011 were roughly 35 percent of all seaborne traded oil, or almost 20 percent of oil traded worldwide. ”. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits. million bbl/d was crude oil. million bbl/d in 2009-2010. —US EIA.

Oil 297
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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Associated sanctions on Russia—with more than 5 million b/d in crude oil processing capacity—disrupted exports of Russia’s refined products into the global market, and will likely continue to do so as import bans in the European Union and United Kingdom come into full force. million b/d in 2022 and by an additional 1.6

Global 448
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Saudi Arabia And Iran Reignite The Oil Price War

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The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. sanctions on Iranian oil. The Saudis are also cutting their prices to the prized Asian market to lure more customers as they increase supply. a barrel above the Dubai/Oman average.

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Plug Power expands hydrogen supply chain partner network in Spain with CLH

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The CLH Group is the leading company engaged in the transport and storage of oil products in the Spanish market and the second-largest logistics operator in Europe in terms of the extension of its pipeline network and storage capacity. Plug Power says that its customers are currently the largest users of liquid hydrogen in the United States.

Spain 186
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GECF: more than a quarter of 2050 natural gas supply untapped

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Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. According to Sentyurin, around 80% of the natural gas production by mid-century will stem from new projects, highlighting the importance of continued investment in upstream. —Secretary General Sentyurin.

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Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. percent in intraday trading on Monday, after a report at the end of last week showed another solid build in the US rig count, the tenth consecutive week that the oil industry added rigs back into the field.

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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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Ichthys will develop approximately 3 billion barrels oil equivalent of reserves, including around 500 million barrels of condensate. In delivering this important project into production we will be securing vital long-term energy supply to Japan.Ichthys production volumes represent more than 10% of Japan’s LNG imports at current.

Australia 210